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Dangote Grooms Nigerian Engineers to Manage Refinery Complex on Completion
The Management of Dangote Oil Refinery is preparing young Nigerian graduates to take over the management of its 650,000 barrels per day single train refinery when it becomes operational in 2022.
Already, the company has trained several Nigerian engineers in some of the world’s biggest refineries in India and other parts of the world to gain first-hand experience on how to manage a refinery of this magnitude.
The President of the Dangote Group, Aliko Dangote, who made this disclosure on Saturday during the tour of the Dangote Refinery by the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, affirmed that the country is blessed with great talents that are capable of running a refinery of this size, if given the necessary encouragement.
According to him, the outbreak of Corona Virus in 2020, which forced many expatriates out of the Construction site made it possible for the company to identify great talents that exist within Nigeria.
Dangote stated: “One thing that gladdens my heart is the young Nigerians we have trained to take over the operation of the Dangote Refinery. These young Nigerians are the ones that are going to run the refinery when it becomes operational. We want a situation whereby the operation of the refinery will be the sole responsibility of Nigerian graduates. We can start the process by bringing in team leaders to keep giving them that training they require to run a world class refinery. However, we will ensure that Nigerian engineers, welders and others are the ones running the refinery. We have created that capacity, human capacity, equipment capacity and every other thing to ensure the successful operation of the refinery by Nigerian engineers.”
Speaking also after the tour of the refinery, the CBN Governor, Godwin Emefiele said that arrangement is being made to enable the Dangote Refinery sell refined crude to Nigeria in naira when it commences production.
The CBN governor noted that the $15 billion projects being constructed by the Dangote Group would save Nigeria from expending about 41 per cent of its foreign exchange on importation of petroleum products.
Emefiele said: ”Based on agreement and discussions with the Nigerian National Petroleum Corporation and the oil companies, the Dangote Refinery can buy its crude in naira, refine it, and produce it for Nigerians’ use in naira.
“That is the element where foreign exchange saved for the country becomes very clear.
“We are also very optimistic that by refining this product here in Nigeria, all those costs associated with either demurrage from import, costs associated with freight will be totally eliminated.
“This will make the price of our petroleum products cheaper in naira. “If we are lucky that what the refinery produces is more than we need locally you will see Nigerian businessmen buying small vessels to take them to our West African neighbours to sell to them in naira.
“This will increase our volume in naira and help to push it into the Economic Community of West African States as a currency,” Emefiele said.
He expressed optimism that the refinery would be completed by the first quarter of 2022, adding that this would put an end to the issue of petrol subsidy in the country.
“I am saying that by this time next year, our cost of import of petroleum products for petrochemicals or fertiliser will be saved, which will save Nigeria’s reserve. “It will help us so that we can begin to focus on more important items that we cannot produce in Nigeria today,” Emefiele said.
He said the CBN had given a N100 billion intervention to the projects, adding that the apex bank was ready to support Nigerian businesses set up to uplift the country economically.
Dangote said that the fertiliser and petrochemicals plants were capable of generating 2.5 billion dollars annually while the refinery would serve Nigeria and other countries across the world.![]()
Dangote thanked President Muhammadu Buhari and the CBN governor for their support toward the completion of the projects.
He said: “I will like to thank the President personally for helping us and assisting us in making sure that we are now back on track.
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ZENITH BANK TO LAUNCH MAIDEN GIRL-CHILD EMPOWERMENT PROGRAMME
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Zenith Bank Plc is set to launch the maiden edition of its Girl-Child Empowerment Programme, an initiative aimed at inspiring young girls to dream boldly, develop the skills and confidence to pursue their aspirations, and prepare for meaningful opportunities in the future.
The event, themed “Banking On Her Tomorrow,” is the brainchild of the Bank’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, the first female GMD/CEO in Zenith Bank’s history and a strong advocate for girl-child education and empowerment. The event will be held virtually on Monday, October 12, 2026, at 11:00 a.m., a day after the International Day of the Girl Child, observed globally on October 11.
The programme, which will feature an impressive lineup of distinguished experts in various fields, seeks to provide girls with the inspiration, knowledge and practical perspectives needed to navigate their education and careers, while exposing them to opportunities in skills development, mentorship and leadership. As an annual platform, it will encourage girls to recognise their potential, broaden their aspirations and equip themselves to make informed choices about their future.
The initiative builds on Zenith Bank’s longstanding commitment to women and girls, demonstrated through programmes and platforms including the Bank’s annual International Women’s Day Seminar, its sole sponsorship of the Zenith Women’s Basketball League, the Women of Honour Awards in partnership with the Ford Foundation, and the Pad-a-Queen Initiative. These complement the Bank’s women-focused financial solutions, including the Z-Woman initiative, an empowerment programme that supports women-owned and women-led businesses through specialised funding, capacity building and networking. Together, these initiatives reflect the Bank’s broader commitment to supporting women and girls at different stages of their lives, and to contributing meaningfully to national development.
This maiden edition is open to all, with girls, parents, educators and other members of the public invited to participate. Interested participants can register via the link below. Those unable to join via Zoom can follow the live stream on Zenith Bank’s social media platforms.
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GTCO Plc Releases 2026 Half Year Audited Results …….. Reports Profit Before Tax of ₦603.03billion,Pays Interim Dividend of ₦1
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group posted a profit before tax of ₦603.03 billion, driven by strong performance recorded on the interest and trading income lines, which grew y-o-y by 7.5% and 24.7%, respectively. The strong earningsrecorded was moderated by a ₦46.2 billion fair value loss recognized in H1–2026, limiting y-o-y growth in PBT to 0.4%.
The Group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. This growth was recorded in each jurisdiction where we operate a banking franchise, and across our Payments, Pension and Funds Management businesses.”
Group’s Total assets and shareholders’ funds closed at ₦18.6trillion and ₦3.3trillion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 34.9% (Bank 29.2%), and asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% and 4.6% % at both Bank and Group Level in H1-2026 (Bank -3.4%, Group 5.0% in FY-2025). Cost of Risk (COR) improved to 0.6% from 2.2% during the same period.
The Group’s Loan book (net) grew marginally by 0.5% from ₦3.13trillion as of December 2025 to ₦3.15trillion in June 2026, converse for improved performance on Deposit liabilities which grew by 10.3% from ₦12.87trillion to ₦14.19trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 35.9%, Pre-Tax Return on Assets (ROAA) of 6.6%, Capital Adequacy Ratio (CAR) of 34.9% (Bank: 29.2%) and Cost to Income ratio of 31.5%.
GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets
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ROAD TO THE CROWN: ZENITH BANK/NBBF WOMEN’S BASKETBALL LEAGUE FINAL 8 SET FOR LAGOS
The road to the 2026 Zenith Bank NBBF Women’s Basketball League title reaches its defining stage as the nation’s top eight teams converge on the Indoor Sports Hall of the National Stadium, Surulere, Lagos, from September 28 to October 3, 2026, for the highly anticipated national Finals.
Emerging from fiercely contested Atlantic and Savannah Conference campaigns, Nigeria Customs, AS Sky Queens, Titans, Air Warriors, MFM, First Bank, Victoria Queens,and Bayelsa Blue Whales have earned their place in the final battle for national honours.
And there is plenty to look forward to.
Last year’s champions, Dolphins Basketball Club, who lifted the trophy after defeating First Bank in the final, will not be in the mix this year after failing to make the top 4 of the Atlantic Conference, leaving the title firmly up for grabs and setting the stage for a new champion to emerge.
But the trophy will be contested by teams with plenty of championship pedigree.
First Bank, last year’s finalist and the most successful team in the history of the competition, arrives with a record nine league titles, while MFM will be looking to draw on its recent dominance after winning back-to-back championships in 2023 and 2024. With both sides among the Final 8, history, experience and ambition will collide as the battle for the crown unfolds.
It is a level of competition that reflects the growth of a league that has, for more than two decades, provided a platform for Nigeria’s best female basketball talents to emerge, compete and develop. At the heart of that journey has been Zenith Bank, the sole sponsor of the National Women’s Basketball League since 2005.
Through its partnership with the Nigeria Basketball Federation (NBBF), Zenith Bank has consistently supported the development of women’s basketball, helping to provide and sustain a competitive platform where talents can be discovered, nurtured and prepared for the highest levels of the sport.
The league has also served as an important pathway to theNational Women Basketball team, D’Tigress, with several players who have featured prominently for Nigeria emerging from the domestic competition. Beyond the national team, the league continues to contribute to youth development by giving young female athletes the opportunity to build confidence, skill, discipline, teamwork and professional sporting careers.
Now, the spotlight turns to Lagos. Which team will grab theopportunity to write a new chapter in the history of Nigerian women’s basketball?
Eight teams. One destination. One crown.
For Zenith Bank, the sponsorship of the Women’s Basketball League represents more than support for a sporting competition. It reflects the Bank’s broader commitment to creating platforms that provide opportunities, develop potential and make a meaningful difference in the lives of young Nigerians.
This commitment extends across several areas of community development, with notable initiatives including:
Through these initiatives and its longstanding support for women’s basketball, Zenith Bank continues to demonstrate that its commitment to society goes beyond banking, with a focus on creating opportunities and contributing to the development of communities and the next generation.
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